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February Financial Focus

January 23rd, 2013 at 02:06 am

As some of you may know, I follow Dave Ramsey. For the month of February I'm going to challenge myself to complete his 30 Day Legacy Drawer Challenge. According to Dave "A legacy drawer is a drawer in your home that contains all the important information that your family needs if something happens to you. It gets the name from the fact that you love your family so much that you get all your matters in order so that the information is easy to get to and understand.

It’s not just papers thrown together. It should be organized so anyone could quickly find a certain document within 20 seconds. Everything is clearly marked, in order, and easy for a grieving family member to find."

I'm not going to use a drawer but a filing system I already have. Now don't get me wrong, I have the important documents in place like a Will and a Living Trust", but are they in centralized location? Does my mom and brother(since I'm single) know where everything is located, unfortunately the answer is no. So my first course of action is to complete the "Financial Accounts Log" This will list out all my accounts with addresses and account numbers on one consolidated document.

So I leave u with this thought, if something tragic were to happen to you or someone in your family, would anyone know where to look for important information? If your answer is no, please join me in getting your financial house in order.

Posted in Uncategorized | 7 Comments »

7 Responses to “February Financial Focus”

  1. creditcardfree Says:
    January 23rd, 2013 at 02:32 am 1358908355
    1358908355

    The last time we had our will updated, I gave copies to my dad, who we named as executor in the event we would both pass. I think the accounts would be the hardest to pin down...since we do so much online. Many of the documents are saved on the computer, rather than a file cabinet. We only have three boxes of saved paper documents...so it could be worse.

  2. Carolina Girl Says:
    January 23rd, 2013 at 11:22 am 1358940139
    1358940139

    Thank you - this is a great idea. Having just recently gone through the sudden death of my father-in-law, this would have been a blessing to have. Every household needs this. I am going to do this for my family. Thanks again!!!

  3. North Georgia Gal Says:
    January 23rd, 2013 at 02:34 pm 1358951677
    1358951677

    I keep a list of my online accounts and passwords in excel. I recently updated this list and sent it to my sister. That way she will know how to get into my information if something should happen to me.

  4. Petunia in a Flower Garden Says:
    February 6th, 2013 at 04:56 pm 1360169810
    1360169810

    I will join you for this challenge. Not sure how much I will accomplish but ANYTHING is better than nothing, right?

  5. Beawealthywarrior Says:
    February 6th, 2013 at 08:35 pm 1360182903
    1360182903

    Totally right Petunia!!

  6. scfr Says:
    February 16th, 2013 at 12:46 am 1360975610
    1360975610

    Mine are in a Rubbermaid filing tote. Not only is it easy to find (my husband & sister both know where it is), it is also portable so I can grab it and go in case of natural disaster. It includes Jonathan Pond's "Letter of Instructions" which can be downloaded for free from his web site. This is the one file I always keep organized. Wish I could say the same for the rest of my office. Smile

  7. Beawealthywarrior Says:
    February 16th, 2013 at 03:23 am 1360985024
    1360985024

    @scfr, thank you for the info about the letter of instruction. I've never heard of Johnathan Pond but the letter is very detailed. I've downloaded it and will be sharing with others.

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